Oschadbank signs memo of cooperation with Donetsk Regional Military-Civil Administration
State-run Oschadbank (Kyiv) has signed a memorandum of cooperation to develop micro, small and medium enterprises (SME) in Donetsk region with Donetsk Regional Military-Civil Administration, the bank said in a press release.
The memorandum was signed at the eleventh international economic forum Discover Donbas on December 9.
"Our guys are guarding the frontline in the east, and we are guarding the financial front. We understand the complicacy of the situation in Donbas. We understand our social responsibility and we're ready to work where there are no out colleagues in the financial sector… Mobile branches of Oschadbank – armored KrAZ vehicles – are on the frontline. We focus on support of small and medium business in Donetsk region, as we believe in restoration of stability in the region and we're ready to lend our shoulder," the bank's press service said, citing Oschadbank Board Chairman Andriy Pyshny.
Under the memo it is planned to expand the access to financial resources in Donetsk region in the settlements under control of Ukraine for SME, via the implementation of the state crediting programs, informing SME on the existing financial and credit business support mechanisms, participation in designing of the mechanism for partial refunding of credit rates and other things.
A total of 74 branches of Oschadbank are operating in the towns of Donetsk region that are under control of Ukrainian authorities.
Oschadbank was founded in 1991. Its sole owner is the state.
Oschadbank ranked second among 123 operating banks in the country on October 1, 2015 by total assets (UAH 156.596 billion), according to the National Bank of Ukraine.